TORONTO, Nov. 13, 2014 /CNW/ - Magellan Aerospace Corporation ("Magellan Aerospace" or "Corporation") announced today that Jim Butyniec will retire from the role of Chief Executive Officer on January 1, 2015. At that time, Mr. Butyniec will become Vice Chairman of the Magellan Board of Directors.
The Corporation extends its thanks to Mr. Butyniec for his contributions over the last decade and looks forward to his continued stewardship as a Board member.
Phil Underwood, President of the Corporation since May of this year, will be appointed President and Chief Executive Officer of Magellan Aerospace, effective January 1, 2015.
Messrs. Butyniec and Underwood have worked closely on this transition to ensure that Magellan Aerospace's change in leadership will be smooth and seamless.
The Corporation congratulates both gentlemen and looks forward to continued success as they assume their new roles.
About Magellan Aerospace
Magellan is a global, integrated aerospace company that provides complex assemblies and systems solutions to aircraft and engine manufacturers, and defence and space agencies worldwide. Magellan designs, engineers, and manufactures aeroengine and aerostructure assemblies and components for aerospace markets, advanced products for military and space markets, industrial power generation, and specialty products. Magellan is a public company whose shares trade on the Toronto Stock Exchange (TSX: MAL), with operating units throughout Canada, the United States, the United Kingdom, India, and Poland.
Image with caption: "Mr. Phil Underwood appointed CEO of Magellan Aerospace, effective January 1, 2015. (CNW Group/Magellan Aerospace Corporation)". Image available at: http://photos.newswire.ca/images/download/20141113_C7305_PHOTO_EN_7999.jpg
SOURCE: Magellan Aerospace Corporation
For further information: Ms. Jo-Ann Ball, Vice President, Human Resources, Magellan Aerospace, Ph: 905 677 1889 x295; Mr. Dan Zanatta, Vice President, Business Development, Marketing and Contracts, Magellan Aerospace, Ph: 905 677 1889 x300